The Solid State Transformer market is currently in an introductory phase, but in a couple of years, it is expected to experience high growth due to its advantages. Solid state transformer has a capability to operate at higher frequency range. Its physical size and weight ratio to the legacy transformer is more than 1:100. The market segmentation revolves around four major market parameters, namely; components, applications, product, and geography.

The new solid-state transformers are quite flexible. They use diodes and transistors and other semiconductor-based devices (power electronics); which, unlike the transistors used in computer chips, are engineered for handling high power levels and happen to be fast switching. In response to signals from home or utility, they can change the voltage and other characteristics of the power they generate. They can put out either DC or AC power, or take in DC and AC power from wind turbines and solar panels and change the frequency and voltage to what is needed for the grid. They have processors and communications' hardware built in, thereby allowing them to communicate with utility operators, the other smart transformers, and consumers.

The power generation and smart grid applications are the most promising ones for SSTs. Size reduction increases the efficiency of the entire power generation system. Since it is a solid state device, better automation and control is possible; this characteristic coincides with the smart grid. Both the applications, along with many others are covered in the report with quantitative and qualitative analysis.

The report entails the market analysis and forecasts related to solid state transformer components and its applications. It also highlights an overview of their growth potential up to 2020.

The report is segmented into four major geographical regions; namely Americas, Europe, Asia-Pacific, and Rest of the World. The current and future trends for each region have been analyzed in this report. Porter's five force model analysis, market share of major players, and competitive landscaping are also included in the report.

The growth of the solid state transformer market is expected to be exponential; in 2020 the market is expected to reach $ 5,043.39 million at a CAGR of 82.3% from 2012 to 2020. Some of the major players in the foray to unleash their products on solid state transformers technology are ABB (Switzerland), Siemens AG (Germany), and Alstom (France). The leading components manufacturing companies in the field of SST technology are CREE Inc (U.S.), STMicroelectronics (U.S.), Infineon Technologies (Germany) and Mitsubishi Electric Corporation (Japan).